Over half of Azerbaijani AGBank's liabilities accounts for deposits
Baku, Azerbaijan, Oct. 20
By Eldar Janashvili – Trend:
The Azerbaijani AGBank increased its total liabilities by 20.4 percent in the end of September 2019 compared to early 2019, Trend reports referring to the bank's balance sheet.
According to the balance sheet, total liabilities increased by 81.381 million manat up to 480 million manat. Over half of all liabilities (55 percent) or 265.325 million manat accounted for foreign currency.
More than half (51 percent) accounted for deposits in the structure of liabilities, which increased by 16.5 percent. The volume of deposits amounted to 246.791 million manat, of which 191.577 million manat (78 percent) were in foreign currency.
The term deposits of individuals, some of which (70 percent) were also in foreign currency reached 89.149 million manat in the structure of bank deposits or 36 percent of the share. The deposits of financial institutions, including banks, amounted to 2.96 million manat, which doubled for the year. Most of them, about 83 percent, accounted for the deposits in the resident financial institutions.
Loro accounts in foreign currency amounted to 16.521 million manat in the end of September 2019, while those in the end of September 2018 amounted to 206,000 million manat.
The share capital for the year decreased by 3.9 percent and amounted to 103.4 million manat. The bank’s uncovered loss amounted to 73.301 million manat, an increase of 14.4 percent. Total reserves amounted to 5.1 million manat (an increase of 56.4 percent).
The bank’s total capital for the reporting period decreased by 15.6 percent and reached 42.018 million manat.
(1 USD = 1.7 AZN on Oct. 20)
Follow the author on Twitter: @eldarjanashvili